BASF Invests $50 Million in Battery Developer

10:26 AM MST | January 12, 2012 | Rebecca Coons

BASF researchers work to advance battery technology. BASF says it has acquired an undisclosed equity stake in lithium-sulfur (Li-S) battery developer Scion Power (Tucson, AZ) for $50 million. The deal compliments BASF’s electrolyte formulation and lithium-ion cathode materials efforts and expands on a 2009 joint development agreement between Scion and BASF Future Business to accelerate the commercialization of Scion’s Li-S battery technology for electric and plug-in electric vehicles. BASF announced in November that it planned to invest €100...